Header$type=social_icons

NO NEED TO SEND ITR-V COMPLETE E FILING BY SMS AY 2015-16

CBDT has introduced a new mode e filing of Income Tax return "EVC" e filing under verification code for e filing of Income tax return in respect of ay 2015-16 .

Methods already available for e filing of Income Tax return

Earlier two methods are available for e filing of Income Tax return

E filing through digital signature

E filing without digital signature (through uploading the data and after that sending ITR-V to Income Tax tax department after signing through Post)

First Method ,return filing through digital signature is not very popular , as person has to spend at least 400-500 per year to renew the digital signature ,However, digital signature can also be used for other purposes.

Second method ,E filing without digital signature (by send ITR-V), Main drawback of second method is that after uploading the data at e filing site ,a person who files his or her tax return online without digital signature has to send a copy of the ITR-V to CPC within 120 days from date of upload of return at e filing site for processing of the return. In this process many such forms are misplaced while in transit.which may cost heavy to assessee as e filing without sending ITR-V shall be null and Void.

New Method Introduced EVC for E filing of Income Tax return ay 2015-16

In the new process ,there is no need of digital signature or sending the ITR-V through mail.

In new system EVC,an e-filer can provide his Aadhaar number in Income Tax return , which will have to be authenticated on the official website of the department via a One Time Password (OTP).

The process, will require the e-filer to register his Aadhaar number in the ITR after which the UIDAI database will send an OTP to the registered mobile number of the taxpayer which subsequently will have to be authenticated on the e-filing website.

The new system is not completely new .Even in retun filing through EVC process ,you have to upload your return or have to fill return online at Income tax department website or through another website .

But Major relief is that there is no need to send ITR-V by post ,Just complete the process of Aadhaar Based One time verification code.

The Central Board of Direct Taxes (CBDT), has already introduced a new column in the ITRs for 2015-16 for Aadhaar.

Further CBDT has plan to send OTP verification through net banking system of assessee.

The new measure will ease the process of quick generation of refunds of taxpayers.